The Price of Insulin

A very brief piece outlining the problem.

By:  Allan Wallace

It is very easy to understand the enormous prices for Insulin (and other drugs). Here it is:

The government protects a small number of insulin manufacturers (pharmaceutical companies) from their competition, allowing them to grow in market share and grow profit margins by charging an ever-increasing amount for insulin.

Then, politicians act shocked when the price of insulin gets sky-high,

Then using the unnaturally high prices as an excuse, Politicians tell everyone that we need the Government to step in and limit prices and increase regulation (which the bigger companies love because it reduces further competition) … when what the politicians really need to do is STOP protecting the few insulin manufacturers from their competition.

Regulation might work faster to lower prices but correcting the problem at its source has fewer unintended consequences and is a permanent fix to the problem. This kind of fix would also work toward lowering all drug costs.

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